Stock Market & Financial Investment News

Bernstein pharmaceuticals analyst holds an analyst/industry conference callPharmaceuticals Analyst Anderson, along with Roche's Dr. Richard Scheller, Head Genentech and Early Development (gRED), provide an update on pivotal Phase 3 pipeline drugs and what mid-stage pipeline compounds are next "on deck" that the Company is most excited about on an Analyst/Industry conference call to be held on May 13 at 11 am.

PTC Therapeutics takeout price likely tops $100/share, said Credit SuisseCredit Suisse yesterday raised its price target for PTC Therapeutics (PTCT) shares to $100 from $66 after Reuters reported the drug market is starting a sale process with Shire (SHPG) and Biomarin (BMRN) as possible suitors. The firm believes a takeout is a likely outcome before or after data the Phase III data expected to be announced in October. PTC has Translarna Phase III trials ongoing in Duchenne muscular dystrophy and cystic fibrosis to support full approval in the U.S. Credit Suisse said yesterday in a note to investors that a takeout value for the company likely exceeds $100 per share. It believes PTC would be a good fit for Vertex (VRTX), Biogen (BIIB), Roche (RHHBY) and others. The firm kept an Outperform rating on the stock. PTC Therapeutics shares closed yesterday up $6.20 to $71.16.